Canalys VP and principal analyst Chris Jones said, "Pebble Technology launched the Pebble Steel and the Pebble appstore and grew at a healthy rate during [the first quarter], managing to achieve smart band market leadership for the quarter with a 35 percent share of worldwide shipments, ahead of both Sony and Samsung.

"[Samsung] must make some big steps to improve sell-through and customer satisfaction with its new products."

Canalys also took a look a basic wearable devices, which includes kit from Fitbit and Nike that lack smartphone functionality found on the Samsung's Gear 2 smartwatch.

Fibit dominated this sector of the wearables market, the research firm noted, claiming almost 50 percent market share. Jawbone saw its marketshare grow rapidly too, while Nike's share of basic band shipments dropped year on year to 10 percent.

Canalys analyst Daniel Matt said, "The Fuelband has frankly been outmatched on sales. Its competitors' speed, international reach, broader channel distribution, integration with other fitness communities, superior web sites and multi-platform support have proven to be major advantages."

However, the research firm is expecting Nike's fortunes to turn around, noting that its software is likely to extend to Apple's upcoming smart band device, which it expects to debut in the second half of the year. µ